Important information about the program and this agreement

This document describes how the Rewards program works and is an agreement between you and Trovy Lending Co. (“Trovy”). You agree that use of your Trovy account or any feature of this rewards program indicates your acceptance of the terms of this Rewards Program Agreement. In this document, the following words have special meanings:

“Agreement” means this document
“Program” means this Trovy Card Rewards program
“Account” means your Trovy account that is linked to this Program
“Card” means any credit card or account number used to access your account
“we,” “us,” “our,” and “Trovy” mean Trovy Lending Co.
“you” and “your” mean the person responsible for the account and for complying with this Agreement
“Authorized User” means anyone you permit to use the account
“Cash Back rewards” are the rewards you earn under the program. Cash Back rewards are tracked as points and each $1 in Cash Back rewards earned is equal to 100 points. You may simply see “Cash Back” in marketing materials when referring to the rewards you earn. You may also see, “points” or ” Rewards points” when referring to the points you can use.
“purchases” is defined in the section of this agreement titled How you can earn points
“misuse” means the improper use of the Program, Card, or Account in a manner inconsistent with the terms and conditions you’ve agreed to, including this Rewards Program Agreement, the cardmember agreement, or the terms and conditions of a third-party merchant or service provider program, through which points may be used or transferred under this program.

Examples of misuse include, but are not limited to:

your failure to make the minimum payment on your Account when due;
buying or selling points;
selling, or participating in the sale or exchange of, gift cards, travel or other items of value obtained through use of points;
repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating rewards;
manufacturing spend for the purpose of generating rewards;
moving or transferring points to an ineligible third party or account;
engaging in commercial reselling activity or operating a resale business using purchases made on the Account;
making returned payments (including ACH reversals) on the Account.

We may make changes to the Program and the terms of this agreement at any time. For some changes, we’ll give you 30 days’ notice (or longer if required by law) as described in the Notice of changes section below.

We may temporarily prohibit you from earning points, using points you’ve already earned, or using any features of the program.

We may supplement this agreement with additional terms, conditions, disclosures, and agreements that will be considered part of this agreement.

We may refer to this agreement as the “Rewards Program Agreement” or “Rewards Program Rules and Regulations” or “Rewards Terms and Conditions” in communications about the program and in supplemental terms, conditions, disclosures, and agreements. This version of the agreement takes the place of any earlier versions.

Notice of changes

We’ll give you 30 days’ notice (or longer if required by law) of the following types of changes to the program or this agreement:

if we add or increase fees applicable to the program
if we decrease the rate at which you earn points
if we limit the number of points you can earn
if we limit or reduce the ways you can use points
if we reduce the value of points
if we cancel the Program

We’ll send this notice to you in writing, which, at our option, may be delivered to you in the mail or electronically by email or through our online services, such as trovy.com.

We’ll give you notice of other changes to the Program or agreement by posting an updated copy of this agreement when you log in to our website, trovy.com.

We won’t provide prior notice when we change what you can get with your points within particular redemption options (for example, we won’t provide notice if the selection or availability of gift cards change, or if a specific product or experience is out of stock through the Program). You understand and agree that we can make these changes at any time. Future availability of any specific items isn’t guaranteed.

You can see what you currently can get with your points when you log in to our website, trovy.com.

How you can earn points

You’ll earn points on purchases of products and services, minus returns or refunds (collectively, the “purchases”), made with a Card by you or an Authorized User of the Account. Purchases must post to your Account to earn points; authorized but unposted transactions do not earn points. Buying products and services with your Card, in most cases, will count as a purchase; however, the following types of transactions won’t count and won’t earn points:

balance transfers
cash advances or cash-like transactions
travelers checks, foreign currency, money orders or wire transfers
lottery tickets, casino gaming chips, race track wagers or similar betting transactions
any checks that access your account
interest
unauthorized or fraudulent charges
fees of any kind
securities purchases/investments
prepaid card loads and stored value

You’ll earn:

1.5% Cash Back rewards for each $1 spent. This equates to $0.015 in Cash Back rewards, which is equal to 1.5 points, for each $1 spent.
- For example, if you spend $100, you will earn $1.50 in Cash Back rewards, which is equal to 150 points.
3% Cash Back rewards total for each $1 spent on purchases in your highest spend category each billing cycle (1.5% additional Cash Back rewards on top of the 1.5% Cash Back rewards earned on each purchase). This equates to $0.03 in total Cash Back rewards, which is equal to 3 points, for each $1 spent. You may see “3X” in marketing materials to refer to the 3% Cash Back rewards total you earn for each $1 spent in these categories. To be eligible to earn 3% Cash Back rewards in your highest spend category, you must have made at least two consecutive on-time minimum payments on your Account. New accounts will earn only the base 1.5% Cash Back rewards on all purchases until this payment history requirement is met. The additional 1.5% Cash Back rewards for the highest spend category will begin in the billing cycle following the second consecutive on-time minimum payment.
- For example, if you spend $100 on purchases in your highest spend category, you will earn $3 in Cash Back rewards ($1.50 in Cash Back rewards for the base 1.5% earned on all purchases, plus an additional $1.50 in Cash Back rewards because your purchases were in these categories). $3 in Cash Back rewards is equal to 300 points.

Rewards Categories:

Merchants who accept Visa/Mastercard credit cards are assigned a merchant category code (“MCC”), which is determined by the merchant or its processor in accordance with Visa/Mastercard procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making rewards offers to you. Please note:

We make every effort to include all relevant merchant codes in our rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won’t qualify for rewards offers on purchases in that category.
We don’t control the assignment of these codes and are not responsible for the codes used by merchants. When you use your Card to make a purchase, we’re provided an MCC for that purchase. We group similar merchant codes into categories for purposes of identifying your spend category. Sometimes you may expect a purchase to fit within a rewards category as recognized by Trovy, but if the code assigned to the merchant wasn’t grouped into that category, your purchase amount will not be included in the spend for that billing cycle. For example, your purchase amount would not be included in the restaurant category for purchases at a restaurant located within a retailer if the restaurant is assigned a “retailer” code instead of a “restaurant” code. Please also note – purchases made through mobile/wireless technology may not be included in the anticipated category depending on how the technology is set up to process the purchase. We reserve the exclusive right to determine in which category purchases are placed.
Geographic and Merchant Restrictions: We reserve the right to exclude certain merchant types, merchant category codes, or geographic regions from earning points if we determine, in our sole discretion, that purchases from such merchants or regions present elevated risk of fraud, misuse, or abuse of the Program. We may implement these restrictions without prior notice.

Highest Spend Categories:

Each billing cycle we will determine your highest spend for Card purchases posted to your Account in the following categories:

Dining & Restaurants
Travel, Transit & Transportation
Groceries
Live Entertainment
Home Improvement, Appliance Retailers, & Hardware Stores
Utilities, Subscriptions, & Streaming Services

Each purchase on your Card is assigned to a category based on the MCC as described below. We will calculate your total amount spent in each category, less any returns posted during the billing cycle, even if the original purchase date for the return was in an earlier billing cycle. We will use this information to determine your highest spend category. Trovy shall have the sole right to determine the highest spend category each billing cycle and their decision will be final. Once we identify the highest spend category for a billing cycle, it will not be changed, even if purchases from that category are returned in a later billing cycle.

Category Definitions:

Dining & Restaurants: Includes purchases at eating establishments such as restaurants, bars, breweries, and fast food restaurants. May exclude transactions made through online food ordering or delivery platforms if the merchant does not use a qualifying MCC.
Travel, Transit, & Transportation: Includes but is not limited to airline, hotel, cruise line, and travel agency purchases, car rentals, ferries, commuter railways, subways, taxis/limousines/car services, passenger trains, bridge and road tolls, parking garages/lots, buses, RV and motor home rentals, EV charging stations (electricity vendors), bike, and scooter rentals, auto clubs, insurance companies, automobile/bicycle repair shops, and gasoline purchases if the merchant uses a qualifying gas station MCC. May exclude warehouse clubs, discount stores, convenience stores or other merchants not classified as gas stations.
Groceries: Includes purchases at supermarkets, grocery stores, meat and seafood markets, dairy stores, bakeries, and other food retailers. Also includes general merchandise and discount superstores, warehouse clubs, and candy/confectionery shops. Online or delivery-based grocery purchases may not qualify if the merchant is not properly classified as a supermarket using the applicable MCC.
Live Entertainment: Includes ticket purchases for concerts, sporting events, theatrical productions, amusement parks, and orchestras. Also includes golf courses, country clubs, bowling alleys, movie theaters, museums, art galleries, and tourist attractions.
Home Improvement, Appliance Retailers, & Hardware Stores: Includes purchases at home improvement warehouses, furniture stores, hardware stores, and garden/nursery suppliers. Also includes retailers specializing in lumber, paint, plumbing, HVAC, flooring, pool supplies, as well as contractors and speciality trader services (e.g., awning installation, bathtub refinishing, fencing, house moving, window replacement, garage doors, metalwork, pool construction, glasswork, well drilling, wallpapering, waterproofing, and welding). May exclude florists, florists’ supply stores, and nursery stock vendors not classified under the applicable home improvement MCC.
Utilities, Subscriptions, & Streaming Services: Includes payment for utilities such as gas, heating, water, cable and pay TV, and phone services, based on MCC.

Other information about the earning and availability of points

Points are earned at the close of each monthly billing cycle, based on the purchases made during that billing cycle, plus any bonus points posted during that billing cycle, but minus any returns or refunds. If you have more returns or refunds than points earned from purchases or bonuses, then points will be deducted from your total points balance and may result in a negative points balance. If you redeem points for cash or statement credit and subsequently the purchases that generated those points are reversed (through return, chargeback, dispute, or non-payment resulting in charge-off), we will deduct the corresponding points from your balance. This may result in a negative points balance, which will be treated as a debt owed to Trovy and added to your Account balance.

You’ll see points you’ve earned in your Online Account at trovy.com. Please note that you’ll see the additional points earned from the highest rewards category separately from the 1.5 points earned on all purchases.

We may, from time to time, provide additional ways for you to see points you’ve earned, such as through Trovy or third-party mobile application(s).

Points become available for redemption in the billing cycle following the billing cycle in which you make at least the minimum payment on the statement that included those purchases; however, points earned on purchases made near the end of a billing cycle may take up to one additional billing cycle to become available.

How you can use your points

You can use your points to redeem for any available reward options.

We may, from time to time, provide additional ways for you to use your points in addition to those described in this agreement, such as through Trovy or third parties.

Redemption values for reward options vary.

When you use points to redeem for cash or a billing statement credit, each point is worth $.01 (one cent), which means that 100 points equals $1 in redemption value.

You are responsible for how points are used, including if you allow Authorized Users to access your points.

To use your points, minimum and maximum amounts may apply. We’ll let you know about any minimum or maximum amounts, as well as any additional terms and conditions, before you use your points.

Once points have been used, the transaction is considered final and may not be canceled unless otherwise noted. We reserve the right to delay or review any redemption request that exceeds $500 in value within any 30-day period, or any redemption that we determine, in our sole discretion, may involve fraud, misuse (including manufactured spend). During such review, which may take up to 30 days, your ability to redeem points may be temporarily suspended. We will notify you if your redemption is being reviewed.

Cash

You can use points to redeem for cash through a statement credit to your Account or an electronic deposit into an eligible checking or savings account held by a financial institution located in the United States.

Go to your Trovy Online Account to request your cash.

Account statement credits will reduce your Account’s balance. Unless the total amount of credits and payments applied to your Account between the statement closing date and the payment due date equal or exceed your statement balance, you are still required to pay your minimum payment or your remaining statement balance, whichever is less, by the payment due date.

How you could be prohibited from earning or using points

While your Account is past due:

you will not earn points on any purchases made during billing cycles when your Account is past due
you cannot redeem any points you have already earned
points you have already earned will remain in your Account but will be unavailable for redemption

After you make a payment sufficient to become current:

you can begin earning points again on purchases made in the next billing cycle
points you previously earned (and did not lose for other reasons stated in this agreement) will become available for redemption in the next billing cycle

We may also temporarily prohibit you from earning points or using points you’ve already earned if we suspect you’ve engaged in misuse or fraudulent activity related to your Account or the Program, or if you make a returned payment on your Account. You can begin earning and using points again in the next billing cycle after we no longer suspect misuse or fraud of the Account or Program. If your prohibition was due to a returned payment, you may begin earning points again only after (a) you make a payment sufficient to become current, and (b) one full additional billing cycle has passed with no further returned payments.

Account Review for Unusual Activity: We may review your Account if we detect unusual spending patterns, including but not limited to: (a) spending significantly above your requested credit limit; (b) high concentration of purchases at a single merchant or merchant category; (c) rapid redemption of points followed by an account closure request; or (d) other patterns we determine may indicate misuse or abuse of the Program. During such review, which may last up to 30 days, we may temporarily prohibit you from earning new points or redeeming points you’ve already earned. We will notify you if your Account is under review.

Disputes and Chargebacks: If you initiate a dispute or chargeback for any purchase, points earned on that purchase will be immediately reversed. If the dispute or chargeback is resolved in the merchant’s favor, the points will not be reinstated. If you have already redeemed points that are later reversed due to disputes or chargebacks, and your points balance becomes negative as a result, you must bring your points balance to zero or positive before you can earn or redeem additional points. We may also suspend your participation in the Program pending resolution of the dispute.

How you could lose your points

Your points don’t expire as long as your Account is open; however, you’ll immediately lose all your points if your Account status changes, or your Account is closed for misuse, fraud, or any of the following reasons:

you fail to comply with other agreements you have with Trovy
we believe you may be unwilling or unable to pay your debts on time, including filing for bankruptcy
we believe that you’ve engaged in fraudulent activity related to your Account or the Program

We won’t reinstate points you lose, unless we’ve made an error.

If your Account is closed for any other reason, you’ll have at least 30 days from the date your Account is closed to use your points, as long as you don’t lose them for any of the reasons described in this agreement. If you don’t use your points during that time, you’ll lose them unless limited or prohibited by law, in which case your unused points will be automatically redeemed for cash in the form of a statement credit to your Account.

If we decide to cancel the Program, you’ll have at least 30 days from the date we cancel the Program to use your points, as long as you don’t lose them for any of the reasons described in this agreement. If you don’t use your points during that time, you’ll lose them.

If we’re notified of your death, your points will be automatically redeemed for cash in the form of a statement credit to your Account.

Other important information you should know

Property: Unless required by law, points aren’t your property. Points have no value until redeemed. You can’t transfer or move points unless expressly provided for in this agreement. Additionally, points can’t be transferred by operation of law, such as by inheritance, in bankruptcy or in connection with a divorce.
Taxes: Your participation in the Program may result in miscellaneous income received from Trovy and we may be required to send you, and file with the IRS, a Form 1099-MISC (Miscellaneous Information) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) for the year in which you participate and are awarded the benefits of the Program. You are responsible for any tax liability related to participating in the Program. Please consult your own tax advisor if you have any questions about your personal tax situation.
Assignments: We may assign our rights and obligations under this agreement to a third party, who will then be entitled to any of our rights that we assign to them.
We’re not responsible for any disputes you may have with any Authorized Users on your Account about the Program.
You release Trovy, its third-party service providers, and their respective affiliates, directors, officers, employees, agents and contractors for all activity in connection with the Program, including but not limited to, use of the Program.
You agree to indemnify and hold Trovy and its third-party service providers and all of their respective affiliates, directors, officers, employees, agents and contractors harmless from and against any loss, damage, liability, cost, or expense of any kind (including attorneys’ fees) arising from your or an Authorized User’s: use of the Program, any fraud or misuse of the Program, violation of this agreement and/or violation of any applicable law or the rights of any third party.
The Program is void where prohibited by federal, state, or local law.
Governing Law: This agreement and use of the Program is governed by federal law, as well as the law of Delaware, and will apply no matter where you live or use the Program.
We may enforce the terms of this agreement at any time. We may delay enforcement without losing our right to enforce this agreement at a later time. If any term of this agreement is found to be unenforceable, we may still enforce the other terms.

Communications

We may send communications about the Program to you at any mailing or email address in our records or through our online services, such as trovy.com.

Let us know right away about any changes to your contact information using the contact information on your billing statement or call the phone number on the back of your card.

Telephone monitoring

You agree that Trovy and its third-party service providers may listen to and record telephone calls as part of providing Program services.